Nakilat’s profit rises

Nakilat of Qatar, the world’s largest LNG shipper, posted a net profit of QR 490.2 million (US $134m) for the first half of this year, an increase of 10% as compared to 2014.

The company revealed a half year revenue of 1,797 million riyals, up 2 percent compared to a year ago.

Nakilat said in a statement it is in a good position to face the current economic situation, as the company’s ships are on long-term charter contracts that are not impacted by temporary fluctuations in oil prices.

Abdullah Al Sulaiti, Nakilat Managing Director said, “Nakilat continues to maintain prudent levels of growth, we have lowered our operating costs and our financing costs are decreasing as we have repaid a suitable amount of our loans.”

“We have also seen increased profits from our joint ventures, particularly since the launch of a new vessel in the second quarter, along with an additional five vessels that became fully operational,” he added.

Nakilat’s 54 wholly and jointly owned LNG vessels represent a total investment of approximately US $11 billion and have a combined carrying capacity of over 8.5 million cubic meters or 15% of the world capacity.

LNG World News Staff; Image: Nakilat